Iran divests state shares worth over $776m in 3 months

TEHRAN – Iran has transferred over 24.8 trillion rials (about $776.3 million) worth of shares of state-run companies to the private sector in spring 2014, the Tasnim News Agency reported on Sunday.

Spring 2014 corresponds to the first quarter of the current Iranian calendar year (March 21-June 21).
On May 11, Iran Privatization Organization Director Abdollah Pouri Hosseini said Iran would privatize 186 state-run companies in Iranian calendar year 1393 (March 2014-March 2015).
He said that the companies consist of 27 huge companies, 76 large companies, 31 medium companies, and 31 companies of other sizes.
The government has envisioned a large privatization program in the Fifth Five-Year Development Plan (2010-2015), aiming to privatize about 20 percent of state-owned firms each year.
Under the present interpretation of the Article 44 of Iran’s Constitution, hundreds of state-owned companies have been privatized.